Gold inched down to a one week low as investors hope a Greek debt deal is on the horizon. The yellow metal is seeing speculative liquidations as stock markets surge again and on renewed speculation that Fed interest rate rise could come this year.
The U.S. Comex gold futures jumped 2.14% to $1,202 on Thursday, climbing the most since May 13 thanks to the more tempered outlook from the Fed’s Chair. The S&P 500 Index rose 1.21% while the Euro Stoxx 50 Index was flat in the past two days.
After a mixed performance on Tuesday the crude oil complex is higher across the board after a larger than expected draw reported in total crude oil stocks by the API late yesterday afternoon. The API reported a 2.9 million bbl draw in crude oil along with a 2.9 million bbl draw in gasoline.
In anticipation of Father's Day, The Gold Report, quizzed Chris and Dr. Michael Berry, authors of the Disruptive Discoveries Journal, on how investing has changed over the years in the gold, silver, niche metals and energy space, and what they are investing in today to make sure they survive to see the next cycle.